Richmond inventor gets offer on Dragons' Den
Described by Arlene Dickinson as a simple and very smart idea, a tool invented by a Richmond man won the favour of the Dragons’ Den star in an episode that aired Wednesday.
Appearing on the CBC TV series, Marco Longley asked the panel of Canadian business moguls for $25,000 in exchange for a 10 per cent stake in his invention—a secondary handle for long shaft tools—that has yet to get to market.
Longley invented the ergonomic back-saving device after suffering severe injuries as as cyclist after being run over by a drunk driver. Six operations later, he is still unable to work, he told the dragons.
“I want to contribute to my family. I haven’t done that for a long long time.”
Dickinson was moved by Longley’s pitch on the show.
“You could easily be the person that says, 'Woe is me,’” she said. “Instead you’ve turned that into ‘I want to do what’s right for my family.’ I think that’s really admirable.”
Dickinson came up with the best offer: $250,000 to buy the HEFT patent, plus a five per cent royalty stream once she has recouped her initial investment.
“Arlene (Dickinson)’s investment offer is still pending and we are continuing to work with her team in hopes of completing the Dragons’ Den deal, while remaining open to other opportunities,” Longley told The Richmond Review.
Last month, Sea Island-based Jet Pet Resort appeared on the show.